Islands of Thailand
For this monthâ&#x20AC;&#x2122;s island theme issue, we explore some of the less developed islands of Thailand,
to reveal some fantastic opportunities to own property at a fraction of the price offered at more
developed resort locations. Highlighting three unique hideaways, Koh Lanta, Koh Phangan and
Koh Mak, we discover dream destinations for all budgets and tastes.

Tropical Living last took a visit to Koh Lanta for the May 2008 issue when we reported of fast
sales in the property market. Since then our contact on the ground, Iain Tiltman of Lanta Island
Property, has been busy conducting a full survey of the island’s property sales activities to date
and assessing the current market situation.
Iain shares with us his
findings regarding the type
of property developments
that are proving popular in
Koh Lanta: “The extensive

 “Up to August this year, there have been 269 total property sales, which

consist of a majority villas at 194 and just 75 apartments.
 “The average property sold has two bedrooms, a sea view with an average

internal area of 121 sq m and was priced at THB 8.68 million.

study was totally inclusive

 “Moving forward, we see a shift as there are many more apartments than

of every available and

villas for sale, almost at a ratio of 2.5 – 1, the average internal area has
decreased and the average asking price has increased, both by around 8%.

foreign owned property on
the island going back to
the start. The main research
findings are:

44

 “There are over 300 properties available for purchase on Koh Lanta, with over

70 of these already constructed, I believe the market is starting to mature.

KRABI

Phang Nga

Phuket
Koh Yao Yai

PP Island

Koh Lanta
Andaman Sea

“This pre-sale construction has given integrity to the market, and
allays most fear in buyers that the developer is underfunded or a fly
by night operation. Combine this with the growing choice of resale
property, including beach front and sea view villas – Koh Lanta has a
property to suit nearly all buyer’s tastes.”

What kind of proper t y buyers are attracted to Koh Lanta?
“Typically, over the last few years we have seen repeat visitors to the
island finally make the plunge in to real estate here. Koh Lanta is seen
as a ‘cult’ destination by some, where people really are in love with the
island and its people, and would dearly like to relocate here. This buyer
profile is now being joined by a different type of buyer, one looking
at Thailand as a whole. These are now seeing Koh Lanta as a viable
alternative to the more perceived popular areas in the Kingdom. This
is, I believe, due to the value that property here represents, the natural
surroundings and the scope for investment growth.”

Can you provide some examples of
land prices around the island?
“I still believe that buying land on Koh Lanta
will prove to be a very strong investment. Land
sales throughout the global recession did slow
slightly, though not as much as expected.
Prices have held, although a few ‘fire sales’
were reported. Obviously, beach front land
is prime real estate and west coast lots are
available from between THB 5 – 15 million
per rai, whilst great west coast sunset sea view
land can be obtained from THB 2.5 million
per rai. On the quieter east coast we would
expect the prices to be around 50% of
something similar on the west. We still get

45

offered from time to time land circa THB 600,000 per
rai. Even at these prices the quality of land available
here is easily as good as anything available elsewhere
in Thailand.”

Last time we repor ted about Koh Lanta
prices for west coast beach front villas
were selling for THB 5.5 million – how
does this compare to today?

“At the time of writing there is actually one of
these villas remaining, although the price is now at
THB 5.8 million, I am confident that this will soon be sold.
Currently, the only two other options to enjoy absolute
west coast beach front living on Koh Lanta is the resale
route or a choice from two property types within a
single development project. Resale wise, there are two
available properties with asking prices of THB 22 – 25
million. Otherwise, a prospective client can choose
between an apartment (from THB 9.7 million), or a villa
(from THB 24.7 milion), construction is underway now.
The value of property of this nature has increased
significantly, although much less than other resort areas.”

properties available for purchase
on Koh Lanta. Clearly, only a
percentage of this would suit
each individual buyer, however
after a slow 12 months I believe
the prospective buyer is in a

free furniture, and price reduction
etc, all giving the buyer more
‘bang for their buck’.”

How would you describe
the lifest yle on Koh Lanta?
“Life on Koh Lanta really is how
you would imagine a tropical
island hideaway, except with a
growing list of creature comforts
a few minutes away. You can still

Koh Phangan is a small
island, only 168 sq km,
55 km from the mainland
and 15 km from Koh
Samui in the Gulf of
Thailand. Despite the
world-wide economic
recession it still has a
thriving property market
largely due to Westerners
hoping to live a simpler
life where their money
goes further.

Eco Tourism vs Par t y People

parties so that it can be marketed as a more
family-friendly destination.

With a laid-back lifestyle, increasing
infrastructure with banks and a Western

Currently approximately 10,000 people

Union office in the main town of Thong

live permanently on Koh Phangan, the

Sala, as well as a local accident and

majority based in Thong Sala. Most of the

emergency facility, it is becoming a

local population lives in small farming and

popular choice for those who arenâ&#x20AC;&#x2122;t

fishing villages dotted around the island.

attracted to the rampant commercial-

As a designated eco-tourist destination,

ism of some of the larger islands in the

over 60% of Koh Phangan is a protected

region. The infamous Full Moon Party

national park making it ideal for hiking

takes place every month and draws

and trekking. The array of white sandy

crowds of up to 30,000 but recently

beaches, many protected by beautiful

measures have been put into place

coral reefs, provide excellent snorkeling

to stop the reported excesses at these

and diving opportunities.

47

Gulf of Thailand

Koh Phangan

Koh Samui

Suratthani

Favourite Hideaways
There are many property hot spots

lovely sea views, easy access,

The main buyers at the moment are

excellent infrastructure and it is

European. They are investing not only in

close to all the amenities on Koh

commercial businesses, but in a number

on the island. On the east coast of the

Phangan.” Nik Parker from Koh

of different types of developments. Nik

island Thong Nai Pan, which consists

Phangan Holiday Homes agrees:

says that two to four-bedroom villas

of two bays linked together, caters for

“The west coast beaches are

are the most popular, whereas Charlie

high-end real estate and also boasts

tranquil and have great views of

favours a wider range: “There are large

many of the top resorts in Koh Phan-

the Ang Tong Marine Park, along

and small housing developments

gan. The west coast is also popular. Ac-

with Koh Phangan’s legendary

appealing to families, older couples

cording to Charlie Solares, managing

sunset.” Commercial businesses

and investors alike. Thong Nai Pan is

director of Sage Land and House, the

tend to base themselves in

attracting families and investors

west coast has some exciting new de-

Haad Rin, the home of the Full

wanting a high-quality villa to live in

velopments underway. He adds, “It has

Moon Party.

part-time and to rent as well.”

48

Invest ment Oppor tunities

location on the island. For example,

region. With the island boasting

rocky coastal land starts at THB 2.5

less traffic, fewer commercial

million per rai or beachfront land for

buildings and a smaller population

Phangan compared to similar locations

THB 5.5 million per rai.” Making sure that

than many surrounding islands,

in the region. Liam Bailey, chief market

underground drainage and water and

it is a magnetic draw for those

analyst from Property Abroad believes

electricity supplies are in place is an

searching for a new start or a

there are some great bargains to be

integral part of the buying process. Many

simpler life, with developments

snapped up. “Just as Koh Samui has

property buyers purchase land assuming

and properties available to suit

been affected by the global situation,

it is ready to be built on, only to find they

every lifestyle and most pockets.

so Koh Phangan growth potential has

have a lengthy and expensive process

been stunted, but this just makes it an

ahead in order to put in the necessary

even hotter investment destination.

infrastructure. Both Nik and Charlie

Prices are very competitive in Koh

www.sagelandandhouse.com
www.kohphanganholidayhomes.com

recommend talking to a real estate
“You can now buy 10 rai of tropical

Key Prices:
Coconut land with no views:
THB 1 million per rai
Rocky coastal land:
from THB 2.5 million per rai
Beachfront land:
from THB 5.5 million per rai
Beach side property:
up to THB 25 million
Investor opportunities:
10 rai beachfront land THB 6.2 million
(predicted up to 5 times return on
investment over time)

49

MARKET WATCH
Contributing Writer : Ian McNamara
Photo by Christian G

Koh Mak
Thailandâ&#x20AC;&#x2122;s Family Island

Photo by Christian G

Koh Mak is located in the Gulf
of Thailand approximately 20
km south of Koh Chang and
is the third largest island in
this area, after Koh Chang
and Koh Kood. Viewed from
the air the island is the shape
of a cross, roughly 5 km from
north to south and 8 km from
east to west with the main
beaches running the length
of the northwest and
southwest shores of
the island.

50

For many visitors, Koh Mak looks

Natural Charms

how they imagine a tropical Thai island
should look. Long swathes of beachfront

Unlike virtually all other islands in

with very little development, no ugly

Thailand the current landowners are

high rise buildings, no traffic as the

all descendants of two wealthy

only vehicles on the island belong

businessmen who settled on the island.

to the resorts, plus family friendly

This handful of extended families still own

accommodation and no crime.

virtually all the land on the island and

Bicycle and scooter are the preferred

as such control the way the island

means of transport for most visitors.

develops. Members of these families

Whilst the island isnâ&#x20AC;&#x2122;t accessible by car

were educated well in Bangkok and

ferry, there are regular speedboat and

overseas and so as time passed the

slowboat services from the mainland

landowners saw how progress was

throughout the year and from

affecting other once pristine areas of

Koh Chang from October to June.

Thailand and made a conscious decision

TRAD

Goodtime Resort

Trad

Koh Chang

Koh Mak

Koh Kood
Gulf of Thailand

Photo by Christian G

not to allow that to happen to their

Island Hot Spots

island. Thus the idea of ‘Thailand’s
Family Island’ was born. Many beach

great views across the island and across
the sea to outlying islands. As the island

There are two beaches that are

is relatively small, you are never more

resorts and islands in Thailand are well

popular with tourists visiting Koh

than a few minutes walk or bicycle ride

known for their bars, nightlife, huge

Mak. On the northwest there is a

from the beach wherever you live.

resorts and shopping malls. You wont

long swathe of sand that is home

get any of that on Koh Mak. What

to Koh Mak Resort and a couple of

you will get is an environment which

smaller bungalow establishments.

ment is still in it’s early stages. The first

is safe, where you wont be disturbed

But the busiest beach is on the

development, marketed under the

by karaoke at 3 am and where you

southwest of the island. This beach

name ‘Goodtime Resort’, only began

can walk along a beach without

is lined with a dozen small and mid

construction in mid-2006. This unique

tripping over a gap year student

size bungalow resorts. However,

development of brick and teak wood

crashed out after a party. Move to

developers have not built on the

homes proved to be very popular and

the island and within a week or two

beach, where land prices are high,

within a couple of years 30 homes had

you will probably have met most of

but a few minutes walk inland in

been built for mainly European buyers.

the inhabitants.

areas that provide privacy but also

The success of Goodtime led to two

At the moment property develop-

51

Koh Mak Property Co., Ltd.

additional developments springing up in

Moving up in size and budget THB

2008, Koh Mak Residence and Sea View

6.9 million will get you a 175 sq m, Italian

locals and developers is key

Villas, both focusing on buyers looking for

designed, two bedroom villa on over 700

to ensuring the island’s future.

family homes but in a more modern

sq m of land. The Sea View Villas have

There again, I don’t expect

Thai style.

great sunset sea views and one minute

anyone to be marketing

walk to the beach. Koh Mak Residence,

million dollar homes on the

a small development of luxury pool villas

island anytime soon, homes

all with panoramic views south to Koh

will tend to be in the THB

Rayang and Koh Kood, can offer fully

5-15 million range for the

been immune to the global economic

furnished two bedroom pool villas ready

foreseeable future as the

crisis and prices for land and houses have

to move into for THB 13 million. And, if

infrastructure required to

fallen in the past year. In comparison to

you are looking for a business to run on

attract the super rich isn’t

property on Koh Chang, buyers will, on the

the island, there can’t be many islands in

yet in place.

whole, get more for their money on Koh

Thailand where THB 21 million will get you

Mak. Another result of the downturn that I

a well known bungalow resort on three rai

have noticed is that potential buyers are

of prime Chanote titled land with over 100

now looking far less at buying off plan and

metres of beachfront.

Proper t y Price Guide
Despite it’s charms Koh Mak hasn’t

more at buying pre-built homes.
With that in mind, these are some
examples of completed homes, ready to
move into now. Anyone with a lower

Future Developments

vision for the island as the

KohChangRealEstate.com &
KohMakProperty.com are online
property agencies established
to showcase the emergence of
Koh Chang and Koh Mak for
homebuyers seeking alternatives
to Thailand’s better known beach
locations. The websites are run
by English/Thai partners,
Ian and Mam, who have lived
on Koh Chang since 2003.